Danversbank Charitable Foundation

Effective 2013 - The Danversbank Charitable Foundation will be accepting grant applications on
a trimester basis.

Grant requests for Malden Community Fund and Danversbank Grant Program must be submitted by February 1st, June
1st and October 1st.

About Danversbank Charitable Foundation

Danversbank Charitable Foundation Inc. was established in 2008 to further support Danversbank, which was
acquired by People's United Bank in 2011. The Danversbank Charitable Foundation will continue to operate and
provide funding to eligible non-profit organizations within the former Danversbank geographic area..

The mission of the Danversbank Charitable Foundation Inc. is to strengthen its communities and the residents who
reside in them by providing funding to eligible non-profit organizations serving them. The vision is to find
opportunities to make valuable investments in these communities, in charitable, scientific, literary or
educational areas where this funding will yield significant results within the community.

The Foundation operates the following community-based programs:

Neighborhood Fund

Malden Community Fund Program

Danversbank Grant Program

Eligibility

Eligibility for these programs will only be granted to organizations who have received 501 (c) (3) tax-exempt
status from the IRS. Danversbank Charitable Foundation will not fund organizations which discriminate based on
age, race, color, sex, religion, national origin, disability, family status, receipt of public assistance or
sexual orientation.

Grant Making Process

The Danversbank Charitable Foundation Inc.'s grant-making process is conducted by its Board of Directors in an
impartial manner based upon an evaluation of each project request. Therefore, solicitation to individual members
of the Danversbank Charitable Foundation Inc. Board of Directors for specific grant requests is discouraged.

The Board of Directors will meet on a quarterly basis (or more frequently, if necessary) to review the
outstanding grant proposals.

Neighborhood Fund

The Danversbank Charitable Foundation Inc. will accept written requests for the Neighborhood Fund on a monthly
basis. Donations range in size up to $2,500, however, most donations within this program are $1,000 or less.
Requests must be submitted using the Charitable Request Application.
Additionally, a cover letter on the organization's letterhead outlining any additional information not included
in the application and an IRS determination letter of tax-exempt status is required.

Organizations may submit only one request for support of any kind during a calendar year. Organizations must not
submit separate requests during a year for fundraising events, or other special events. Any organization that has
been denied funding can resubmit their request after 12 months. The Danversbank Charitable Foundation Inc. does
not provide funding to individuals, religious organizations, labor organizations, political organizations or
projects, operating deficits, conference and seminars, governmental agencies, trips and tours – including
transportation costs, foundations and annual appeals.

Malden Community Fund Program

The Malden Community Fund is funded through the Danversbank Charitable Foundation Inc. The Malden Community Fund
was established as part of the Danversbank merger agreement with BankMalden, and was designed to acknowledge the
charitable giving of BankMalden and their staff. The Malden Community Fund will generally make contributions to
non-profit organizations based in Malden that provide programs and services or are focused on social, health and
youth services, affordable housing, education, cultural events, and low and moderate income individuals. Funds
are granted for capital needs and/or one-time special project expenses, with a maximum grant amount of $10,000.
The grants may range widely in size; multiyear grants may be paid over up to a three year period and are
generally for capital campaigns. No more than 50% of the grants provided will be for multiyear grants.

Requests for the Malden Community Fund must be submitted using the Charitable Request Application. Requests
for Malden Community Fund Grants must be submitted by February 1st, June 1st and October
1st; they will be evaluated quarterly in March, June, and November. The Foundation will send a letter
notifying of the committee’s decision within 30 days of its review.

Danversbank Grant Program

The Danversbank Grant Program is funded through the Danversbank Charitable Foundation Inc. This program was
designed to extend the philanthropic efforts of the former Danversbank. The Danversbank Grant Program will award
grants to non-profit organizations that provide programs and services or are focused on social, health and youth
services, affordable housing, education, cultural events, and low and moderate income individuals. The grants may
range widely in size, and may be allocated over a multiyear period of up to five years. Grants up to $50,000 will
be considered for annual gifts, and no more than $100,000 on multiyear grants. Funding commitments, however, are
generally on a year-to-year basis. The multiyear grants are generally for capital campaigns. No more than 50% of
the grants provided will be for multiyear grants.

Requests for the Danversbank Grant Program must be submitted using the Charitable Request Application. Requests
for Danversbank Grant Program Grants must be submitted by February 1st, June 1st and October 1st; they
will be evaluated quarterly in March, June, and November. The Foundation will send a letter notifying of the
committee’s decision within 30 days of its review.